Kinetic Engineering Ltd. has received in-principle approval from BSE and near-unanimous shareholder backing for a ₹177 crore investment plan, marking a major milestone in its growth journey. The company confirmed that 99.9967% of shareholder votes were cast in favour of the issuance of 1,03,56,725 warrants to raise the funds, which will be infused over a period of 18 months.
The first tranche of ₹55 crore is expected to be injected into the company by March 31, 2025, and will be used for capital expenditure, tooling, and expansion plans, especially targeting the EV market through its subsidiary Kinetic Watts and Volts.
Key investors in this fundraise include Transaction Square LLP and Sai Geeta Penumetsa, alongside increased promoter participation. The promoters also aim to increase their stake from 59% to 70% by FY27, highlighting their long-term commitment.
Vice Chairman Ajinkya Firodia stated,
“This investment marks a significant step in our journey of growth and transformation. We’re unlocking new opportunities and creating long-term value for all stakeholders.”
Kinetic Engineering, celebrating its 52nd anniversary, operates a large manufacturing plant in Ahmednagar and serves clients such as Renault, Tata Motors, Ashok Leyland, and Mahindra & Mahindra.
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